Atkore Inc. (NYSE:ATKR – Get Free Report) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Tuesday, May 21st will be given a dividend of 0.32 per share on Friday, May 31st. This represents a $1.28 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Monday, May 20th.
Atkore has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Atkore to earn $16.40 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 7.8%.
Atkore Price Performance
NYSE:ATKR opened at $176.39 on Friday. Atkore has a 52-week low of $116.14 and a 52-week high of $194.98. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $6.49 billion, a P/E ratio of 10.57 and a beta of 2.19. The business’s 50-day moving average price is $176.60 and its 200 day moving average price is $154.60.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 target price on shares of Atkore in a report on Friday, March 22nd. Citigroup boosted their price target on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th.
Get Our Latest Report on Atkore
Insider Activity at Atkore
In other news, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Leangela W. Lowe sold 6,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now owns 25,590 shares in the company, valued at $4,505,631.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William E. Jr. Waltz sold 43,072 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,464 shares of company stock valued at $25,124,751. Corporate insiders own 2.56% of the company’s stock.
Atkore Company Profile
Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.
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